Description
Huge 600k Price Reduction! Once in a lifetime 100% Vacant & Updated Triplex 3 Units cash flowing at a current 5% Cap Rate with preliminary plans for an additional 4th ADU unit on the World-Famous Abbot Kinney Blvd. Perfect Live/Work/Rent/ development/Airbnb Opportunity in the heart of Venice Beach which may be used as a Single Family House/Office/Retail as well since it's one structure. Incredible Returns at a 5% Cap Rate and 14.4 GRM on Existing income once leased up with additional future ADU upside. Large 3,000 SF Lot C2-1 zoned Lot that may allow flexibility of commercial, retail, office, and residential uses. Perfect owner-user opportunity as well as a short-term vacation rental (Airbnb & Vrbo) potential to maximize income. Large Updated Double Car Garage in the back which may be used as Office/Gym with the potential to convert into 1 attached ADU unit plus additional open surface parking spaces accessible from the rear alley. The property is a minutes bike ride to the Beach, just steps away from all the fine Shopping & Dining on Abbot Kinney, and is central to daily errands, including Erewhon Market, the weekly Venice Farmers Market, and Costco.
-
2BEDS
-
0.07ACRES
-
3BATHS
-
01/2 BATHS
-
1,600SQFT
-
$1,184$/SQFT
School Ratings & Info
Description
Huge 600k Price Reduction! Once in a lifetime 100% Vacant & Updated Triplex 3 Units cash flowing at a current 5% Cap Rate with preliminary plans for an additional 4th ADU unit on the World-Famous Abbot Kinney Blvd. Perfect Live/Work/Rent/ development/Airbnb Opportunity in the heart of Venice Beach which may be used as a Single Family House/Office/Retail as well since it's one structure. Incredible Returns at a 5% Cap Rate and 14.4 GRM on Existing income once leased up with additional future ADU upside. Large 3,000 SF Lot C2-1 zoned Lot that may allow flexibility of commercial, retail, office, and residential uses. Perfect owner-user opportunity as well as a short-term vacation rental (Airbnb & Vrbo) potential to maximize income. Large Updated Double Car Garage in the back which may be used as Office/Gym with the potential to convert into 1 attached ADU unit plus additional open surface parking spaces accessible from the rear alley. The property is a minutes bike ride to the Beach, just steps away from all the fine Shopping & Dining on Abbot Kinney, and is central to daily errands, including Erewhon Market, the weekly Venice Farmers Market, and Costco.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-02-08T00:26:47.06. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Living SoCal. Licensed in the State of California, USA.